ST. JOHN’S, Newfoundland and Labrador--(BUSINESS WIRE)--Altius Minerals Corporation (ALS:TSX) (ATUSF: OTCQX) (“Altius” or the “Corporation”) reports that its subsidiary Altius Resources Inc, (“Altius Resources”) announced today that it has acquired ownership of an aggregate of 4,541,500 common shares (“Common Shares”) of Orogen Royalties Inc. (TSXV: OGN) (“Orogen”), with its head office at 1201-510 West Hastings Street Vancouver, BC V6B 1L8. The Common Shares were acquired by Altius Resources on the TSX Venture Exchange on the following dates: (i) on March 22, 2021, Altius Resources acquired 56,000 Common Shares and 133,000 Common Shares at $0.325 and $0.32874 per share, respectively; (ii) on March 23, 2021, Altius Resources acquired 127,000 Common Shares at $0.33677 per share; (iii) on March 24 2021, Altius Resources acquired 123,000 Common Shares at $0.32748 per share, (iv) on March 25, 2021, Altius Resources acquired 102,500 Common Shares at $0.32115 per share; and (v) on March 26, 2021, Altius Resources acquired 4,000,000 Common Shares at $0.3589 per share, for an aggregate purchase price of $1,613,490.13 (collectively, the “Acquisition”).
The Common Shares acquired by Altius Resources pursuant to the Acquisition represent an increase in Altius Resources’ holdings of the Common Shares of approximately 2.57%. Immediately prior to the Acquisition, Altius Resources owned 21,323,515 Common Shares representing approximately 12.045% of the issued and outstanding common shares of Orogen. Upon completion of the Acquisition, Altius Resources owns 25,865,015 Common Shares representing approximately 14.615% of the issued and outstanding common shares of Orogen.
Altius Resources acquired the Common Shares for investment purposes only, and depending on market and other conditions, Altius Resources may from time to time in the future increase or decrease its ownership, control or direction over securities of Orogen, through market transactions, private agreements, or otherwise.
In satisfaction of the requirements of National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, an early warning report respecting the acquisition of the Common Shares by Altius Resources has been filed under Orogen’s SEDAR Profile at www.sedar.com.
The head office of Altius is located at 38 Duffy Place, 2nd Floor, St John's, NL A1B 4M5. For further information regarding this share acquisition by Altius, please contact Chad Wells, Vice-President, Business Development, Altius Minerals Corporation, Tel. 1-877-576-2206.
Altius’s strategy is to create per share growth through a diversified portfolio of royalty assets that relate to long life, high margin operations. This strategy further provides shareholders with exposures that are well aligned with sustainability-related global growth trends including the electricity generation transition from fossil fuel to renewables, transportation electrification, reduced emissions from steelmaking and increasing agricultural yield requirements. These macro-trends each hold the potential to cause increased demand for many of Altius’s commodity exposures including copper, renewable based electricity, several key battery metals (lithium, nickel and cobalt), clean iron ore, and potash. In addition, Altius runs a successful Project Generation business that originates mineral projects for sale to developers in exchange for equity positions and royalties. Altius has 41,477,653 common shares issued and outstanding that are listed on Canada’s Toronto Stock Exchange. It is a member of both the S&P/TSX Small Cap and S&P/TSX Global Mining Indices.